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Can brokers piggyback on their customers?

  #4 (permalink)

Market Wizard
Boca Raton
 
Trading Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,418 since Sep 2010
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Big Mike View Post
@mattz may have input.

Mike

@Big Mike, I have found that those who do not trade, or paper trade are concerned with being copied. Sadly, they also have other concerns that are at times not relevant to trading.

Those who do trade, realize that brokers in day to day operations are involved in:
1) Sales - bringing customers on board
2) Monitor Risk - in case of unexpected moves
3) Servicing customers who encounter technical issues or have general questions

In case there is a bored broker that all he does is look for successful trades to imitate, he will experience a VERY SHORT career span.

This is a service industry, and regardless of skill, success, and risk capital, all we do is take care of the customer from all aspects: technology, fast response time, and other things that are relevant to that specific trader. We do not engage in trying to imitate or duplicate traders.

I hope this answers what brokers do, or should do.

Thank you for the opportunity to answer this.

Matt
Optimus Futures

There is a risk of loss in futures trading. past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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